Yara reported a strong set of figures primarily driven by the implemented higher sales prices beating our cautious expectations, whereas consensus was more moderately beaten (top-line: 6; profitability: +2). In our view, the price increases overcompensated for the higher energy costs and weighed on volumes. However, the times of increasing prices is not over as management guides for higher forward prices until the year-end.
16 Jul 2021
Strongly driven by higher prices
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Strongly driven by higher prices
- Published:
16 Jul 2021 -
Author:
Martin Schnee -
Pages:
3
Yara reported a strong set of figures primarily driven by the implemented higher sales prices beating our cautious expectations, whereas consensus was more moderately beaten (top-line: 6; profitability: +2). In our view, the price increases overcompensated for the higher energy costs and weighed on volumes. However, the times of increasing prices is not over as management guides for higher forward prices until the year-end.